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December 2016

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In order to contest the steep rise in prices of yarn and grey fabric, the textile exporters in Pakistan have resolved to go on with their “stop buying campaign”, and to cease production. Also, if the condition further deteriorates, they may even shut down their production units.

All the exporters in the country recently convened an emergency meet held to evaluate the present situation and to decide on the future course of action to fight out the issue of hoarding of yarn.

The exporters, who called this rise in yarn prices to be lethal for the industry, also divulged that, unchecked speculative activities were furtively going on in the markets which are detrimental for the industry.

According to them, speculation and hoarding activities have caused yarn prices in the domestic markets to soar, harming the manufacturing sector and the value added textile industry. The conditions have so deteriorated that, the industrialists are finding it difficult to keep their units functional and are striving to keep them running.

They even stated that, the textile sector was already in despair over uncontrolled cost of production, as also the highly priced export items too have no longer remained competitive in the world markets. It is just not possible to go on with the production activities with such high prices of inputs, they averred.